What are the doctrines of commercial law?

Answer 1

The doctrines of commercial law encompass principles that govern business transactions and trade. Key doctrines include the doctrine of offer and acceptance, which establishes the formation of contracts; the doctrine of consideration, which requires something of value to be exchanged; and the doctrine of agency, which pertains to the relationship between agents and principals in business dealings. Additionally, doctrines like the doctrine of unconscionability protect against unfair contract terms, ensuring fairness in commercial agreements.